In the simple circular flow model containing just households and business firms,the entire product flows to ________ in exchange for ________.
A) business firms,labor services
B) business firms,wages
C) households,consumer expenditures
D) households,labor services
Correct Answer:
Verified
Q4: When the dollar depreciates,
A)exports will increase and
Q5: Assume a simple economy without a government
Q6: GDP can be measured by the
A)total value
Q7: The real income per capita is a
Q8: The cars produced by Toyota in its
Q10: Negative net exports represent reduced investment because
A)payments
Q11: Which of the following is NOT a
Q12: When the dollar strengthens,
A)exports will increase and
Q13: Figure 2-2 Q14: The circular flow of income describes the
A)flow
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents